https://www.taxtmi.com/caselaws?id=429386 Penalty under section 271B is not automatic and is controlled by the reasonable-cause protection in section 273B. Where the assessee maintained regular books and the additions arose from accommodation entries and unaccounted commission income detected during assessment, the relevant accounts for section 44AB were the books kept in the ordinary course of business, not the disputed receipts. As the lower authorities did not properly consider the assessee's explanation and reasonable cause was shown, the penalty was held unjustified and deleted. en-us Fri, 21 Oct 2022 00:00:00 +0530 Thu, 27 Oct 2022 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429386 Penalty under section 271B is not automatic and is controlled by the reasonable-cause protection in section 273B. Where the assessee maintained regular books and the additions arose from accommodation entries and unaccounted commission income detected during assessment, the relevant accounts for section 44AB were the books kept in the ordinary course of business, not the disputed receipts. As the lower authorities did not properly consider the assessee's explanation and reasonable cause was shown, the penalty was held unjustified and deleted. Case-Laws Income Tax Fri, 21 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429386